Yes, it does. You are in error here.

I joined the fee-paid partnership program back in March and immediately gained unlimited access to read every story that interested me. Since becoming a partner, I have read 20 to 30 posts per day with no limits to my access. Full disclosure: I already had more than the 150 followers requirement and became an immediate partner. Also, a handful of my FB writers forum group joined as fee-paid members and also gained that full reader-access, even though they weren't permitted to join the partner program until they passed that 150 follower threshold.